KOA: Canvas project to change how Dubai views real estate
Mohammed bin Zaal says there is an opportunity to ‘go into a third cycle of development in Dubai’
Following the launch of KOA’s first project, Canvas, Mohammed bin Zaal, the CEO and founder of the boutique developer, has said that the project will have an impact on how Dubai views the real estate market.
Speaking to Big Project ME during a tour of a show apartment at the Canvas project site, Zaal said that his concept of creating liveable spaces that “reflect the lifestyles of a new, forward-thinking generation of UAE residents”, is one that will start a new wave of development in Dubai.
“What I’m doing with Canvas will definitely have an impact on other developers in the market in general,” he said. “There’s an opportunity here to go into a third cycle of development here in Dubai, just by asking the right questions and addressing clients’ concerns.
“It’s about doing things a little differently. You don’t have to just move between price brackets, you have to rethink the way real estate is done here. That’s why I’m doing it.”
In an earlier statement, Zaal had said that the next step in the evolution of property development was about the real estate industry catching up with the demands of a new generation of residents, and the long-term vision of the region.
To that end, KOA’s projects are designed to take inspiration from around the world, and will showcase Zaal’s ethos of being connected to culture, nature and shared spaces, he said.
“I think Dubai is the place to be. As I said, I’m trying to start a new wave of development here, so there is definitely opportunity,” he told Big Project ME. “Especially in our sort of niche – which is being a boutique developer and delivering smaller number of units and smaller communities (that reflect our ethos).
“Dubai is pretty good like that, in terms of allowing people (to do different things). The government support that you have, the authorities, all those sort of things. I don’t see many challenges arising for this development,” he asserted, adding that the Dubai market has matured, with both customers and contractors now looking for quality workmanship and value.
Located near Mohammed bin Rashid Gardens, off Emirates Road, the Canvas building consists of 70 apartments. Seven floors are dedicated to apartment style living, with offerings of studios, one-two-and three bedroom floorplans. There are also several options of layouts available, while the project will have facilities such as a gourmet market, day care facilities, fitness studios, a swimming pool, water features, landscaped gardens and art displays around the grounds.
